Browsing: NZD/USD Forecast

The New Zealand dollar is under pressure from all sides and against many currencies. What’s in store for NZD/USD and AUD/NZD? Here are several opinions: Here is their view, courtesy of eFXnews: NZD: A Sell On Rallies Ahead Of A ‘Perfect Storm’ – ING ING FX Strategy Research argues that NZD/USD is a sell on rallies ahead of ‘perfect storm’ of rising yields & political risks. “With speculative markets still significantly net long NZD and signs of any political risk premium yet to reach extreme levels, we suspect a narrower focus on the 23 Sep elections could spell further weakness for NZD…

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The New Zealand dollar doesn’t provide too many technical indicators, but it certainly has its share of technical setups. Here are two trading ideas: Here is their view, courtesy of eFXnews: AUD/NZD: A ‘Fading Star’; What’s The Trade? – ANZ ANZ FX Strategy Research favors fading NZD strength from here arguing that the good news story is already well factored in at current elevated levels, and prefers to express that vs AUD.  “We have a mildly negative bias towards the NZD…We think that the recent normalization in the AUD/NZD cross has some scope to continue. It has made an important technical…

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I am looking at the NZDUSD chart. There are a few factors that are making me think it might be time for this pair to turn the tide. The Bigger Picture The Daily chart looks quite bullish to me. There is the major support level at 0.7200. A Bullish Engulfing pattern formed two sessions ago. Today’s candle might end up being a bearish rejection or a pin bar. It seems like bears are not in control anymore (or at least for the foreseeable future). Let’s zoom in and change to 4 Hour chart. 4 Hour Chart It seems like a…

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With the big US events behind us and the president on holiday, perhaps crosses provide better opportunities. The Reserve Bank of New Zealand meets this week and Canada is seeing oil prices wobble. Here is their view, courtesy of eFXnews: Currency investors should consider selling NZD/CAD this week ahead of the RBNZ August policy meeting on Aug 10, advises CitiFX Research in its weekly pick to clients. Citi recommends selling NZD/CAD* around 0.9363 targeting 0.9150 with a stop at 0.9480.  Citi weekly trades provide short term guidance on where they see 1-2 week opportunities in G10 FX markets. For lots more…

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The economy of New Zealand lost 0.2% of its work force in the second quarter of 2017, a big miss against 0.7% that was expected. Year over year, the country still gained 3.1% but this was against an expectation of 4.1%. And while the unemployment rate remained unchanged at 4.8%, it was only thanks to a big fall in the participation rate: 70% instead of 70.6% previously. Wage growth also fell short of expectations, rising 0.8% instead of 0.9% expected. Looking from the outside, these numbers still point to a very robust economy. However, the New Zealand dollar had already…

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The kiwi dollar is overlooked by many. Nevertheless, in some days this pair makes bigger moves than many of its counterparts. After the recent gains, what’s next? Here is their view, courtesy of eFXnews: NZD: Bullish Tech Signal Intact; Levels & Targets – NAB NAB FX Technical Strategy Research still holding a bullish NZD/USD bias since shifting from definitively bearish to bullish in the past three to four weeks. “The 7.5% decline from the February high now looks to  be complete after bullish weekly and monthly closes in May. Fresh positive MT momentum bias helps to confirm the shift in directional bias…

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NZDUSD Although NZDUSD has been behaving oddly recently, I believe there is a great setup forming here. Last week, price action traders probably were misled by a Daily pin bar. I believe that what we are looking now might be a possible new NZDUSD interim bottom. The price did not go lower and has been on the rise since then. The daily candle from Friday is a long-legged doji, which usually shows indecision. Today’s candle is most likely going to be a bullish candle. This hypothesis should be confirmed by a daily close. My approach: I will be looking for…

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The Reserve Bank of New Zealand managed to hit the kiwi when it was down. The recent improvement in the employment situation created expectations for a more hawkish central bank, but the RBNZ remained neutral and especially cautious. The policy is expected to remain accommodative for a considerable period of time. They also have specific projections about the interest rate. It carries expectations for remaining at 1.8% all the way to September 2018. The interest rate is predicted to rise to 2% only in September 2020. Perhaps the biggest disappointment comes from the dismissal of the recent developments. They see them…

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The New Zealand dollar was trading around the 0.70 level once again. Five events await us this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Milk prices continue rising as seen in the latest GDT Price Index: 3.1%. The CPI beat expectations by rising 1% but there were doubts about the details, limiting the kiwi’s rise. In the US, disillusion from Donald Trump weighed on the greenback but not enough to really move NZD/USD. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Visitor Arrivals: Tuesday, 22:45. Tourism is New Zealand’s second sector after dairy exports.…

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The New Zealand dollar hugged the 0.70 level once again. Will it choose a direction after Easter? Quarterly inflation figures stand out. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The Business NZ Manufacturing Index advanced to 57.8 points, but the FPI slipped. All in all, data from New Zealand was quite stable. NZD/USD rose higher after US President Donald Trump talked down the dollar. However, the greenback recovered, also buoyed by higher consumer confidence. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: GDT Price Index: Tuesday, during the European afternoon. The past two milk…

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